Sound Mind Correlations
SMIFX Fund | USD 9.93 0.07 0.71% |
The current 90-days correlation between Sound Mind Investing and Smi Servative Allocation is 0.91 (i.e., Almost no diversification). The correlation of Sound Mind is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Sound Mind Correlation With Market
Very poor diversification
The correlation between Sound Mind Investing and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sound Mind Investing and DJI in the same portfolio, assuming nothing else is changed.
Sound |
Moving together with Sound Mutual Fund
0.94 | SMILX | Smi Servative Allocation | PairCorr |
0.83 | SMIDX | Smi Dynamic Allocation | PairCorr |
0.9 | CGRGX | American Funds Growth | PairCorr |
0.9 | FPGGX | American Funds Growth | PairCorr |
0.9 | FGPGX | American Funds Growth | PairCorr |
0.89 | MUTHX | Franklin Mutual Shares | PairCorr |
0.89 | TESRX | Franklin Mutual Shares | PairCorr |
0.89 | FMSHX | Franklin Mutual Shares | PairCorr |
0.9 | GWPCX | American Funds Growth | PairCorr |
0.9 | GWPFX | American Funds Growth | PairCorr |
0.9 | GWPAX | American Funds Growth | PairCorr |
0.9 | CGQGX | American Funds Growth | PairCorr |
0.73 | MGGYX | Mirova Global Green | PairCorr |
0.78 | HLDIX | Hartford Emerging | PairCorr |
0.77 | HLDRX | Hartford Emerging | PairCorr |
0.77 | HLDAX | Hartford Emerging | PairCorr |
0.78 | HLDCX | Hartford Emerging | PairCorr |
0.78 | HLDTX | Hartford Emerging | PairCorr |
0.83 | MYSIX | Victory Trivalent | PairCorr |
0.94 | PRJIX | T Rowe Price | PairCorr |
0.8 | RGCYX | Global Opportunistic | PairCorr |
0.92 | CHW | Calamos Global Dynamic | PairCorr |
0.85 | APDIX | Artisan International | PairCorr |
0.86 | FPBFX | Fidelity Pacific Basin | PairCorr |
0.83 | VGSNX | Vanguard Reit Index | PairCorr |
0.86 | PGDRX | Diversified Real Asset | PairCorr |
0.76 | PRFSX | T Rowe Price | PairCorr |
0.9 | TRRFX | T Rowe Price | PairCorr |
0.92 | QNTIX | Quantex Fund Institu | PairCorr |
0.84 | EMXIX | Ashmore Emerging Markets | PairCorr |
0.83 | FYTKX | Fidelity Freedom Income | PairCorr |
0.91 | RYTAX | Technology Fund Class | PairCorr |
0.79 | PBCAX | Prudential California | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Sound Mutual Fund performing well and Sound Mind Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Sound Mind's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
SMILX | 0.39 | 0.08 | 0.00 | 0.31 | 0.04 | 0.97 | 2.66 | |||
SMIDX | 0.31 | 0.10 | (0.03) | 0.68 | 0.00 | 0.79 | 2.00 | |||
SMIFX | 0.56 | 0.02 | (0.02) | 0.16 | 0.53 | 1.80 | 4.29 | |||
LINPX | 0.51 | 0.18 | 0.14 | 0.98 | 0.00 | 1.14 | 2.81 | |||
APHKX | 0.43 | 0.07 | (0.02) | 0.31 | 0.33 | 1.01 | 2.93 | |||
SSCDX | 0.75 | 0.12 | 0.11 | 0.25 | 0.67 | 2.24 | 5.93 | |||
FHKAX | 0.74 | 0.24 | 0.19 | 0.58 | 0.49 | 2.32 | 5.23 | |||
HAGIX | 0.84 | 0.18 | 0.17 | 0.31 | 0.69 | 2.49 | 5.96 | |||
CEYIX | 0.64 | 0.01 | (0.01) | 0.15 | 0.67 | 1.43 | 4.66 | |||
VPMCX | 0.77 | 0.13 | 0.13 | 0.28 | 0.70 | 2.23 | 5.47 |